Wells Fargo Downgrades Bio-Techne Amid Merck KGaA Buyout Plans

Wells Fargo has downgraded its rating of Bio-Techne to Equal Weight from Overweight. The move comes as Merck KGaA, a German multinational pharmaceutical company, is reportedly planning a buyout of Bio-Techne.

The downgrade was made by Wells Fargo analyst John Ransom, who cited the pending acquisition as the reason for the change in rating.

Backtested performance data from TipRanks shows that this recommendation has historically resulted in losses for investors.